The same effort and respect put into the Lord of the Rings movies was not put into The Hobbit trilogy. It was a cash grabbing banking on the success of Lord of the Rings. Same thing goes for Rings of Power which did an amazing job of being even worse than the Hobbit trilogy.
I can’t speak to Rings of Power, as I haven’t watched it and don’t intend to sub to Amazon Prime for it. But from what I’ve seen of it (trailers and a few short docu’s) it isn’t stellar.
But I think you’ll find The Hobbit trilogy does have its fans, and roughly equalled the Lord of the Rings in box office receipts. Personally I acknowledge it does deviate from the book, but it largely stays true in spirit, and I’ve very much enjoyed watching and rewatching them on occasion.